Analog Devices (NASDAQ:ADI) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Analog Devices (NASDAQ:ADI) in a research note issued to investors on Thursday, Benzinga reports.

A number of other brokerages have also recently weighed in on ADI. Stifel Nicolaus lifted their price objective on Analog Devices from $220.00 to $240.00 and gave the company a buy rating in a research note on Monday, May 20th. The Goldman Sachs Group lifted their target price on Analog Devices from $191.00 to $205.00 and gave the company a buy rating in a report on Thursday, February 22nd. Morgan Stanley reiterated an overweight rating and issued a $212.00 target price on shares of Analog Devices in a report on Thursday, April 11th. Bank of America lifted their target price on Analog Devices from $225.00 to $260.00 and gave the company a buy rating in a report on Thursday. Finally, Evercore ISI initiated coverage on Analog Devices in a report on Tuesday, April 16th. They issued an outperform rating and a $254.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $243.23.

Analog Devices Trading Down 0.9 %

Shares of NASDAQ ADI opened at $232.51 on Thursday. Analog Devices has a twelve month low of $154.99 and a twelve month high of $241.88. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $200.67 and a 200-day simple moving average of $193.84. The stock has a market capitalization of $115.38 billion, a PE ratio of 54.32, a PEG ratio of 5.77 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the firm posted $2.83 earnings per share. The company’s revenue was down 33.8% on a year-over-year basis. On average, equities analysts forecast that Analog Devices will post 6.16 earnings per share for the current year.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.92 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.58%. Analog Devices’s dividend payout ratio is currently 85.98%.

Insider Transactions at Analog Devices

In related news, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $197.64, for a total value of $242,701.92. Following the completion of the sale, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $197.56, for a total value of $687,311.24. Following the completion of the sale, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at $1,134,982.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,707 shares of company stock valued at $4,874,613. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Analog Devices

Hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. lifted its position in Analog Devices by 101.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 65 shares during the period. USA Financial Formulas lifted its position in Analog Devices by 87.8% during the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 65 shares during the period. Cetera Trust Company N.A acquired a new stake in Analog Devices during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in Analog Devices during the 4th quarter worth approximately $29,000. Finally, Riverview Trust Co acquired a new stake in Analog Devices during the 1st quarter worth approximately $30,000. 86.81% of the stock is owned by institutional investors and hedge funds.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.